«Problems of economics and management of oil and gas complex»

Formation of a model for managing the cost of oil producing organizations projects at the early stages of implementation

UDC: 622.324.5:005.21
DOI: -

Authors:

¹ Ukhta State Technical University, Ukhta, Russia

Keywords: management model, project lifecycle, early stages of implementation, economic efficiency, project cost

Annotation:

Oil producing organizations play a fundamental role in the economies of many countries, including Russia, having been a key source of income and energy security for decades. At the same time, the industry is facing unprecedented challenges, operating in conditions of geopolitical instability, fluctuations of energy prices, and significant changes of investment resources availability. Projects of the domestic oil industry are large-scale, capital-intensive, and require a high degree of management process organization. The complexity of projects management in the Russian oil industry lies not only in the necessity of complying with strict budgetary and time limits, but also in taking into account the specifics of deposits, climatic conditions, technical constraints and environmental safety requirements. All of the above-mentioned factors require special approaches to project cost management, especially at the early phases of projects implementation, when the amount of investment costs is not yet large, but the quality of development options depends on the further implementation of the project and the achievement of the set goal.

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